How to buy BIP

From Minter Wiki
How to buy BIP

At the moment, there are several ways to purchase BIP or other custom coins on the Minter network. This article introduces both official and unofficial platforms.

Official platforms

MBank

  • Address: https://bip.dev/
  • Minter coins for exchange: BIP, any Custom coin
  • Acceptance of cryptocurrencies: BTC
  • Acceptance of fiat money: is planned
  • Minimum volume: sale from 100,000 BIP or custom coins in an equivalent volume; purchase in any volume
  • Commission: no
  • Guarantor: service itself
  • Languages: English, Russian


MBank

The alpha version of the first Liquidity Provider is called MBank. This platform was made by the development team of Minter network.

You can buy or sell BIP here for BTC (Bitcoin) only for now. It is planned to add feature of buying/selling BIP using bank cards in the nearest future. The exchanger itself acts as a guarantee. There is no need to conduct a dialogue with the seller. The price of BIP is not tied to bitcoin. Currently the minimum transaction amount for a sale is 100,000 BIP.

To buy BIP you need to have a Minter network wallet, generate an address for bitcoin transaction and send your bitcoins to it. The rule of the system is that the cheapest applications are bought first, so there is the opportunity to purchase BIP at a better price than the official one.


The official price is defined as the weighted average of all applications for the sale of BIP and it is impossible to buy coins above this price. You can buy any number of BIP up to 50 million coins.

LocalMinter Chat (Rus)

  • Address: Telegram Chat @LocalMinter
  • Minter coins for exchange: BIP
  • Acceptance of cryptocurrencies: BTC, ETH, others by agreement with participants
  • Acceptance of fiat money: electronic money (Yandex.Money, Qiwi, etc.), transfer to debit cards (Sberbank, Tinkoff, Privatbank, etc.), as well as any other money systems by agreement
  • Minimum volume: by agreement of the parties
  • Commission: only third-party money systems or guarantor services
  • Guarantor: at the request of the parties. The group has a list of individuals that are verified guarantors.
  • Language: Russian

LocalMinter is the so-called OTC market ( Over-The-Counter ). This is OTC trading, which is carried out directly between users. Any person acts as a guarantor on this platform. So all trading operations are conducted at your own risk. In the case of fraud it is most likely impossible to return the funds. You can buy BIP both for fiat money and for cryptocurrency. There are no restrictions on the amounts, users themselves determine the price and the number of coins that they want to sell / buy.

How to buy BIP on LocalMinter

The process of buying coins through LocalMinter is completely manual and requires only smartphone and wallet registered in the Minter network.

Proposals are submitted in a strict format, as shown in Figure 1.

Figure 1


The items in the ad indicate:

  1. Ad type. The user can either exchange any currency for BIP (purchase) or exchange BIP for any currency (sale). This paragraph indicates directly what operation the user wishes to perform.
  2. The number of BIP coins. It indicates amount of BIP that the user wants to sell or buy, and it is possible to agree on any amount within this value.
  3. Payment method. This paragraph sets the payment system and/or currency in which the user wishes to make a transaction. For example, buy BIP by paying with transfer from a bank card or through a bitcoin wallet.
  4. Price for one BIP coin. It's indicated strictly in USD (US dollars). The user himself has the right to choose at what price he wants to sell or buy coins. Only period of waiting for potential buyer (seller) depends on his choice.
  5. Guarantor. A guarantor is transaction intermediary. The buyer sends the currency to him, and the seller sends the coins. Thus, a safe transaction is carried out when one of the participants cannot withdraw the funds of the other without making an exchange. The chat has a list of guarantors with a high reputation, which can be chosen by both the seller and the buyer. It is strictly recommended to provide transactions through a verified guarantor. The guarantor takes a commission for participating in the transaction, the size of the commission is negotiated in advance, as well as which of the participants will pay it.
  6. Now you need to choose a suitable offer, or create your own, following up the rules for ads' design. In the first case you need to write to the advertiser and discuss the purchase amount, type of payment and guarantor with him. If no ad fits you can create your own, guided by the format, and wait for a potential seller.

Unofficial platforms

Automatic exchange 1001btc

  • Address: https://minter.1001btc.com
  • Minter Coins for exchange: BIP
  • Acceptance of cryptocurrencies: BTC, ETH
  • Acceptance of fiat money: no
  • Minimum volume: 100 BIP
  • Commission: if the exchange amount is less than 0.037 ETH (when exchanging ETH) or the exchange amount is less than 0.06 BTC (when exchanging BTC), the network commission will be withheld from the client.
  • Guarantor: service itself
  • Languages: English, Russian


1001btc

1001btc is a service for instant exchange with fixed BIP rates for cryptocurrencies: BTC and ETH. The limit on the amount is set to the BIP reserve that is indicated in the exchange rate field at exchanger. The amount of the reserve can be increased simply by contacting the administration of the exchanger. The guarantor is the system itself and all transactions take place automatically. If you want to buy coins, you need to specify the currency, amount and direction of exchange, and then follow the steps. The exchanger has a user-friendly interface and responsive support.

BipStore Website

  • Address: https://bipstore.ru/
  • Minter Coins for exchange: BIP
  • Acceptance of cryptocurrencies: BTC, ETH
  • Acceptance of fiat money: more than 30 electronic money systems and banks of near and far abroad in total
  • Minimum volume: 50 BIP
  • Commission: 1% when replenishing the balance in your account.
  • Guarantor: service itself
  • Languages: English, Russian


BipstoreMain

On the BipStore website, transactions are carried out between users. The platform is a guarantor. The minimum purchase/sale amount is 50 BIP, the commission is 1%. You can pay by credit card (currently Russian, Ukrainian and Belarusian banks), electronic money and cryptocurrency. Transactions can be made after quick registration. In order to make a deal, you need to choose the right offer and follow the steps. The site’s interface is clear and simple and purchased BIPs are automatically sent to the buyer's address.

BipstoreEn

Monster Wallet

  • Address: https://monsternode.net/wallet/?exchange
  • Minter Coins for exchange: BIP
  • Acceptance of cryptocurrencies: BTC, ETH
  • Acceptance of fiat money: no
  • Minimum volume: no
  • Commission: 0.5% on a completed transaction
  • Guarantor: service itself
  • Language: English
Monster Wallet

Validator MonsterNode’s Exchange is an analogue of the cryptocurrency exchange. Transactions can be carried out after verification via e-mail. The rate is tied to Bitcoin, therefore, while funds are credited to the account, the rate can change dramatically. Transactions are carried out only with cryptocurrency and funds are withdrawn manually. The number of coins for sale or purchase is not limited and transactions are arranged in the form of an exchange cup. To complete transactions you need to register by e-mail, deposit bitcoins to your wallet, indicate the number of BIPs you need to buy and offer a price for a BIP unit.

BIP Banker

  • Address: BIP Banker Bot
  • Minter coins for exchange: BIP and any custom coin of Minter network
  • Acceptance of cryptocurrencies: BTC, ETH
  • Acceptance of fiat money: more than 30 electronic money systems and banks of near and far abroad in total
  • Minimum volume: no
  • Commission: the commission of the bot is 1% of the transaction, which is distributed in the following way:
    - 40% is returned back to all active customers of our service - 40% go to the development of the bot and further projects - 20% on commissions on transfers between wallets - 0.01 to withdraw from the bot (Minter network commission)
  • Guarantor: service itself
  • Languages: English, Russian


BIPBankerBot

BIP Banker Bot is a bot in the Telegram social network where you can buy BIP for fiat currency using bank cards for payment, as well as for various electronic money and cryptocurrency. You can view the offers of other participants or create your own with the help of this bot. The transaction is carried out between people, but the bot itself acts as a guarantor, blocking the seller’s BIP for the duration of the transaction. Transactions are conducted with 1% commission. There are no restrictions on the amount of coins. You need to choose a payment method and seller to complete transaction. On BIP Banker channel you can follow interesting news, rules of working with a bot and referral program.

Exchange service CashTransfers

  • Address: https://cash-transfers.ru
  • Minter Coins for exchange: BIP
  • Acceptance of cryptocurrencies: BTC, ETH, LTC
  • Acceptance of fiat money: Cash MSK, Sberbank, Qiwi, Yandex, Alfabank, Perfect Money
  • Minimum volume: 100 BIP
  • Commission: is included in currency rate. Commission from the recipient is 0.00025 BTC when exchanging BTC.
  • Guarantor: service acts as a guarantor. It's uptime the the 4 years and is presented on Bestchange platform
  • Languages: English, Russian


CashTransfer

Cash-Transfers is an automatic service for exchanging electronic currencies that offers excellent exchange rates, on-line support and fast processing (1-10 minutes). It provides individual savings system of discounts, affiliate program, the opportunity to invest in an exchange business and to use internal wallets to store currencies.

Other unofficial Telegram bots points

  • @HopperXchange_bot — only buy BIP from the service of the same name
  • @bipbrobot — autoexchanger
  • @Bip1000Bot — sells a check for 1000 bip for qiwi (from the MinterPro node)
  • @AnyCashBot — multi-currency exchanger, including cash deposit and withdrawal

Other exchange sites


Links

  1. Official platforms
    1. MBank/Liquidity Provider/Official site BIP.DEV;
    2. Chat LocalMinter;
  2. Unofficial platforms
    1. Chat OTC Minter;
    2. 1001btc;
    3. BipStore;
    4. Exchange by Monster Node;
    5. BIP Banker Bot;
    6. CashTransfers;